Chicago-based asset manager TrueMark Investments and Houston, TX-based Eagle Global Advisors have announced the launch of the TrueShares Eagle Global Renewable Energy Income ETF (Ticker: RNWZ) on the New York Stock Exchange.
The firms writes that the actively-managed ETF is designed to offer investors core renewables exposure and stable income by investing in renewables infrastructure companies that are providing value through accelerating the global transition to clean energy.
“The RNWZ ETF is a great vehicle for investors to gain access to the global megatrend created by declining renewables costs and global efforts at decarbonisation,” says Michael Cerasoli, CFA, Portfolio Manager of the RNWZ ETF at Eagle Global. “Above and beyond the environmental characteristics, the next generation of renewable infrastructure companies are laying the groundwork necessary to restructure power grids and commercialize the utility of solar, wind, hydro and biomass alternatives that have more runway and tailwinds than ever before.”
“We’re extremely excited to partner with an Energy manager of Eagle Global’s caliber. Given the ongoing tailwinds in the renewable energy infrastructure industry, their wealth of experience in the sector gives us confidence that RNWZ is in capable hands,” says Michael Loukas, CEO of TrueMark Investments. “From an investment perspective, we believe that this concentrated portfolio has the potential to produce a steady current income stream coupled with the possibility of meaningful future upside.”
The resulting RNWZ portfolio is made up of 25-30 owners and operators of renewable infrastructure. RNWZ’s expense ratio is 0.75 per cent.
“We’re thrilled about the launch of the RNWZ ETF,” Cerasoli says. “The recent passage of the Inflation Reduction Act (IRA) is a jolt of energy to the transition to renewables power generation. We’re confident that continuing down this path will lead to more sustainable infrastructure and an exciting transition to cleaner energy alternatives.”